Dividend Policy

We recognize that maximizing profits for our shareholders is one of the most important managerial goals. That is why our basic dividend payout policy will be determined after taking into consideration a wide range of indices such as our business performance, financial situation, future business and investment plans, and our internal reserve balance. More specifically, we will invest our internal reserves effectively to maintain a stable business foundation while achieving continued growth and development with maintaining Return on Equity (ROE) of 30%. And then, we will aggressively return the surplus which excess the above criteria to shareholders with due care to an improvement in financial liquidity.

In principle, we plan to distribute surplus funds as dividends either once a year – at the end of the fiscal year – or twice a year. Decisions regarding interim dividends will be made in a Board meeting, while decisions regarding year-end dividends will be made at the general meeting of shareholders.

Dividends

The amount of the dividend are detailed below for FY2016.
Estimated dividends for FY2017 are 12 yen per share (interim) and 17 yen per share (year-end).

FY2016 Dividend per share(Plan)
Q1
Q2 ※20.0
Q3
Q4 16.0
※The company conducted a one-for-three stock split on September 30, 2016. Dividend per share at the end of the second quarter of FY2016 is indicated based on the actually paid amount and not including the impact of such the stock split.